Plans for the Thomson and Barbara Mpinganjira Foundation Unveiled
Malawian business mogul Dr Thomson Mpinganjira recently retired from his homegrown financial empire FDH Financial Holdings, announcing plans to establish the Thomson and Barbara Mpinganjira Foundation, helping Dr Mpinganjira to realise his philanthropic vision as well as supporting the next generation of business leaders and entrepreneurs.
Throughout his prolific career, Dr Thomson Mpinganjira founded and grew one of Malawi’s most impressive business empires, establishing First Discount House, FDH Bank, FDH Money Bureau, and FDH Financial Advisory Services. Thomson Mpinganjira implemented stringent corporate responsibility strategies through all of his business ventures. Learn more about philanthropic causes supported by FDH Financial Holdings and its subsidiaries by viewing the attached infographic.
The Thomson and Barbara Mpinganjira Foundation will focus on philanthropic pursuits, helping Malawi’s youth with their innovative business ideas and — crucially — providing them with start-up capital.
At a farewell event staged in Blantyre by FDH Bank, Dr Mpinganjira said that the foundation would focus on supporting causes such as health and education. He explained that, through the initiative, the couple wanted to nurture new talent. Thomson Mpinganjira pointed out that access to funding is often a significant stumbling block for many budding Malawian entrepreneurs trying to establish new business ventures. Dr Mpinganjira revealed that the Foundation’s board would be responsible for assessing projects, as well as managing Foundation assets of somewhere between MK250 million and MK300 million.
Prior to establishing his own business empire, Dr Thomson Mpinganjira was employed by several prestigious companies, including Mandala, Blantyre Print, Deloitte, and the National Bank of Malawi. Learn more about the group of companies established by Dr Mpinganjira by viewing the attached video.
In 2020, FDH Bank became the first privately founded business to be listed on the Malawi Stock Exchange. Dr Mpinganjira founded this leading homegrown financial institution as part of his vision to create a lasting legacy to outlive him, setting the pace for generations of Malawians to come.
Starting with a workforce of just nine employees, FDH Financial Holdings currently provides jobs for over 800 Malawian citizens. Through his corporate social responsibility strategies coupled with investment in his employees, Dr Thomson Mpinganjira and his corporate entities have established a strong reputation as an employer of choice, providing his workforce and their families with comprehensive health insurance.
Malawi’s first stockbroker, Dr Mpinganjira served as Stockbrokers Malawi Limited’s CEO from 1997 to 2000. He came up with the concept of First Discount House while working for the Malawi Stock Exchange. History will remember Dr Mpinganjira for leaving a solid banking legacy. Handing over the reins to William Mpinganjira, Dr Mpinganjira pledged complete confidence in his son’s capabilities.
Imparting advice on how to establish a business empire, Dr Mpinganjira advised budding business leaders and entrepreneurs to “Put God first.” He said that the Bible is the best success manual, since all wealth comes from God, irrespective of whether people accept that or not. Dr Mpinganjira said that God gives us the means and power to create wealth, pointing out that we merely manage it for Him. He further explained that God expects a spiritual return on investment.
In 2020, the First Discount House founder spoke at an event at Blantyre’s College of Medicine, addressing the Seventh Day Adventist Women Leadership Convention. He delivered a powerful presentation on the theme of ‘The Bolts and Nuts of Entrepreneurship.’
In his inspirational talk, he explained the importance of having a vision and dream, before setting a plan in motion to realise that dream. He underlined the importance of thinking big, and pursuing a goal so substantial that even if an entrepreneur only realised a small part of it, they would still be considered successful.
